According to official data released on Friday, industrial growth has slipped to 0.6 per cent in February this year due to contraction in power generation and mining output and poor performance of manufacturing sector.
To offset the impact of high import costs, the Planning Commission had said that Coal India Ltd should adopt a pooling formula on prices by combining rates of imported and domestic coal.
Indian economy grew at a nine-year low rate of 5.3 per cent in January-March quarter in the last financial year and also in the last fiscal at 6.5 per cent.
With economic conditions turning better compared to that three months ago, the Planning Commission on Monday said economy should record at least 6.7 per cent growth rate this fiscal, the same as was witnessed in 2008-09.
Showing concerns over hardening inflation, the Reserve Bank today left the key interest rate unchanged but reduced cash reserve ratio by 0.25 per cent to inject Rs 17,500 crore (Rs 175 billion) liquidity into the financial system.
Shortly before the commencement of the Sixth G20 Summit in Cannes, France, leaders of the emerging, but powerful, economies -- Brazil, Russia, India and China -- met with the intention of designing a joint strategy on how to tackle the Eurozone debt tsunami that could overrun the developing nations causing havoc.
Between 2004-05 and 2011-12, on an average, poverty declined by two percentage points a year say experts who worked on the data.
The economy will turn the corner in the next six months as the deceleration of the past several quarters has been arrested, Planning Commission Deputy Chairman Montek Singh Ahluwalia said on Monday.
According to Ahluwalia, if everything goes well on the economic growth front for the next three months, then one can say that the economy will be back on higher growth trajectory in the long run.
Bihar Chief Minister Nitish Kumar on Wednesday apologised in both Houses of the legislature, as well as outside, for remarks made a day before on the importance of women's education to control population growth.
Cricket icon and Rajya Sabha MP Sachin Tendulkar may not be able to attend the first half of the Budget session of Parliament due to his engagements in the on-going India Australia cricket series.
According to latest Central Statistical Organisation's estimates, the economy will grow at a rate of 5 per cent in the current fiscal -- the lowest in over a decade.
Says govt's focus is to re-assure foreign investors that India is wide open for business.
In a relief to Rajya Sabha Deputy Chairman P J Kurien, a Kerala court on Saturday rejected a plea by the victim in the Suryanelli gang rape case for a reprobe into the alleged involvement of the Congress leader, holding there was no new ground for a fresh investigation.
Amid the controversy raging over the definition of poverty, Planning Commission Deputy Chairman Montek Singh Ahluwalia and Union Rural Development Minister Jairam Ramesh on Monday claimed that they have resolved the issue.
The working group on food and public distribution constituted under the chairmanship of Planning Commission Deputy Chairman Montek Singh Ahluwalia is likely to recommend using the numbers effectively for streamlining PDS.
The document which was tabled in Parliament by Finance Minister P Chidambaram has projected the growth rate for next fiscal at 6.1-6.7 per cent.
The Kerala government on Tuesday informed the high court that it had not yet taken a final decision on whether or not to register the complaint filed by the Suryanelli rape victim against Rajya Sabha Deputy Chairman P J Kurien seeking to make him an accused in the case.
A petition was filed in Kerala high court seeking a direction to the state and director general of police to conduct investigation against Rajya Sabha Deputy Chairman P J Kurien in the Suriyanelli rape case in the light of the victim's charges against him in the 17-year-old case.
The Kerala high court on Monday adjourned to March four the hearing of the bail pleas of 17 accused in the Suriyanelli rape case allegedly involving Rajya Sabha Deputy Chairman P J Kurien.
Some reactions to RBI's monetary policy announced on Monday.
With the five-year term of Reserve Bank of India Governor Y V Reddy coming to an end soon, names of his deputy Rakesh Mohan and Planning Commission Deputy Chairman Montek Singh Ahluwalia are emerging as potential successors, a media report said in London.
Ahead of the Budget session of Parliament, Rajya Sabha Deputy Chairman P J Kurien has written to members of the House, saying three police inquiries and two judicial processes have cleared him in the 17-year-old Suryanelli rape case.
Diesel price hike is a tough decision and we need lot of tough decisions to get to 8 per cent growth rate," Planning Commission Deputy Chairman Montek Singh told reporters.
In an interview to rediff.com's Shobha Warrier, Kerala BJP President V Muraleedharan talks about the possible conspiracy that helped P J Kurien go scott-free and why the BJP is now protesting over Suryanelli rape case.
With the Supreme Court reopening the Suryanelli case, the horrific gang-rape case of a 16-year-old girl from the small town in Kerala has again hit national headlines.
Plan panel Deputy Chairman Montek Singh Ahluwalia welcomed the initiative to set up a Rail Tariff Regulatory Authority for rationalising fare and freight rates, in the Railway budget.
Commerce Minister Anand Sharma on Wednesday sought to assure prospective American investors that India is a 'welcoming investment' destination where the climate is 'totally conducive' to such actions.
The mother of the Suryanelli gang-rape victim in Kerala has written to United Progressive Alliance chairperson Sonia Gandhi to ensure that PJ Kurien does not chair the Rajya Sabha when the bill on sexual violence against women comes up in Parliament.
Terming the 5.5 per cent GDP growth as "good news", Planning Commission Deputy Chairman Montek Singh Ahluwalia today expressed confidence that economy would rebound in subsequent quarters.
Parliament proceedings were washed out for the fifth straight day, as members from parties including the Telugu Desam Party and the All India Anna Dravida Munnetra Kazhagam, continued their protests on various issues.
India's fiscal deficit is expected to be 5.6 per cent of gross domestic product this fiscal as against the budget estimates of 4.6 per cent of GDP.
The 12th Plan document describes three average annual growth scenarios - 8%, 6-6.5% and 5-5.5 per cent.
The elections for the deputy chairman of the Rajya Sabha election is expected some time next week. The vacancy arose because the term of K Rehman Khan has ended. The Bharatiya Janata Party will take the contest seriously; much like it did for the Presidential and vice-presidential polls and may ask the Telugu Desam Party or the Anna Dravida Munnetra Kazhagam to contest.
Raise diesel prices or else face a situation similar to the recent grid failure which led to complete blackout across 20 states for hours, Planning Commission Deputy Chairman Montek Singh Ahluwalia said on Friday.
The two-day conference, which saw participation of ministers and senior officials from all the states, was marked by brainstorming in the run up to the expected enactment of the government's ambitious Food Security Bill.
Terming HSBC's projection at 5.2 per cent for the current fiscal as incorrect, Ahluwalia said the second half is likely to be better than the first half's.
Asian soccer chief Mohamed Bin Hammam was banned for life Saturday after being found guilty by world football's ruling body of trying to buy votes ahead of last month's FIFA presidential election.
Currently 100 per cent FDI is allowed in the sector.
The authority is set to cross the target by the end of this month, with a million enrolments every day. It has already allotted 116.3 million Aadhar numbers.
